Persistent Systems Q2 FY27 Revenue at $487.6M, Up 20% YoY; Nagarro Acquisition Nears Completion
Persistent Systems reported Q2 FY27 revenue of $487.6 million, up 20.0% YoY. The company has secured over 94% of Nagarro's share capital, nearing completion of the acquisition. Shareholder approval was granted for an equity raise of up to $450 million as part of a $1,250 million financing plan. The acquisition is expected to close by Q4 CY26/Q1 CY27.
The strong financial performance, combined with the near-completion of a major acquisition and associated funding, will have a significant impact on the company's market position, financial structure, and future growth trajectory.
The company reported strong year-over-year revenue growth, progress on a significant acquisition, and shareholder approval for necessary funding, all of which are positive indicators for the company's future prospects.
Persistent Systems Limited announced its financial results for the quarter and half-year ended September 30, 2026. The company reported a revenue of $487.6 million for Q2 FY27, marking a 20.0% increase year-over-year and a 7.8% increase quarter-over-quarter. The EBIT margin stood at 15.0% for the quarter.
The company provided an update on its acquisition of Nagarro, stating that it has secured approximately 94.04% of Nagarro's share capital and voting rights. Shareholder approval was also received for an equity raise of up to $450 million, with combined equity and borrowings capped at $1,250 million.
Management highlighted progress in strengthening AI capabilities through its 3C framework and AI-driven platforms, focusing on developing Enterprise Context for clients. The company also announced that it has filed for regulatory approvals from the RBI and FDI authorities in Austria and Spain, with the acquisition expected to close by Q4 CY26 / Q1 CY27.
Financial highlights for Q2 FY27 include revenue of ₹46,639 million, EBIT of ₹6,977.2 million, and PAT of ₹3,515.1 million. For the half-year ended September 30, 2027, revenue was ₹89,671.3 million, EBIT was ₹13,846.0 million, and PAT was ₹8,345.6 million. The company also mentioned that the acquisition is expected to be cash EPS accretive in the first year.
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